Crypto lender Nexo recently added support for cryptocurrency exchange service to its mobile app. The exchange supports around 17 different digital assets, with over 75 cryptocurrency and fiat pairs.
Nexo to expand its list of services
Nexo revealed the new service in an announcement published Monday, February 1st. The announcement says that users will not be limited by the number of exchanges that they make, and that the support for crypto exchanging is available for Android and iOS alike.
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Users are allowed to trade up to $50,000 per trade, according to Nexo’s spokesperson.
Furthermore, users will be allowed to transfer crypto-assets to and from their Nexo Wallet from any other exchange or wallet that they might use. On top of that, users can deposit traditional currencies directly by transferring them from their bank accounts. The company also has its own crypto credit card in-store, with plans to launch it in the next few months.
Its final goal is to offer the full range of crypto banking services for retail customers. The company has already obtained all the necessary licenses to be in full compliance with laws and regulations in over 200 jurisdictions where it operates.
Nexo established ties to the industry’s biggest exchanges
From what is known, Nexo will not store the traded assets itself. Instead, it employs a smart routing system, which ties it to a number of different exchanges, and can split orders depending on price per volume. Once the user submits their order, the price will be fixed, so there will be no changes applied during the time the order will take to travel from the platform to the exchanges.
Nexo did not reveal which exchanges are being used for liquidity, but their spokesperson did say that the system connects the platform to five of the most trusted exchanges with top capital, all at the same time. As a result, Nexo will be able to offer the best, most competitive prices.